WARNING! Financial West Group and Private Placements
We are currently investigating allegations made against Financial West Group, a Westlake Village, California-based securities brokerage firm. FINRA (the Financial Industry Regulatory Authority) brought a regulatory action against Financial West, alleging that it failed to provide adequate procedures to perform due diligence on private placements. FINRA alleged that this conduct occurred between October 2008 and June 2015.
According to FINRA’s allegations, Financial West Group’s written supervisory procedures failed to address many elements of a firm’s due diligence process for private placements. FINRA alleged that its failure violated FINRA rules and regulations, including those outlined in FINRA Regulatory Notice 10-22. To settle these allegations, Financial West agreed to pay a $40,000 fine.
FINRA also brought the complaint against Gene C. Valentine, the firm’s Chairman and CEO. FINRA alleged that Valentine allowed a statutory disqualified individual to act as a registered representative of the firm. To settle these allegations, Valentine agreed to pay a $10,000 fine and agreed to a 30-day suspension in a principal capacity.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including in California and throughout the western U.S. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Our office handles all of our arbitration cases on a contingent fee basis, meaning you do not pay unless we recover money for you.
Click to view: Financial West Group FINRA AWC
Click to view: Valentine, Gene BrokerCheck 8.17.16
HAVE YOU LOST MONEY WITH FINANCIAL WEST OR IN PRIVATE PLACEMENTS?
CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CASE EVALUATION
Denver Office: (720) 599-3505
Seattle Office: (206) 795-5798
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.